Compared to investing in physical capital, human capital investments are more likely to be influenced by
a. nonmonetary considerations.
b. depreciation rates.
c. the rate of return.
d. opportunity costs.
A
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Nonlinear price discrimination
A) sets the price consumers pay based on quantity purchased. B) is where the firm sets prices in geometrically or exponentially decreasing price points. C) is used in situations where consumers have no reservation prices. D) eliminates deadweight loss.
Which of the following is accurate regarding government expenditures in the United States?
a. The federal government spends considerably more than state and local governments combined. b. The federal government spends more than local governments but less than state governments. c. Local governments spend more than state governments, which in turn, spend more than the federal government. d. Since 1930, total government expenditures as a share of GDP have declined.
In general, as individuals undertake additional years of schooling,
A) their stock of human capital increases. B) the marginal productivity of individuals as workers declines. C) the marginal benefit to society of the extra years of education increases. D) the marginal productivity of individuals as workers becomes negative.
Under the kinked demand curve model, a small increase in marginal cost will lead to
A) an increase in output level and a decrease in price. B) a decrease in output level and an increase in price. C) a decrease in output level and no change in price. D) neither a change in output level nor a change in price.